Vincent O’Neill has been appointed senior vice president and chief medical officer of BioXcel Therapeutics (NASDAQ: [[ticker:BTAI]]). O’Neill had been serving as chief medical officer of the Branford, CT, company on a consulting basis since last July. His experience also includes senior roles at Genentech, Sanofi (NYSE: [[ticker:SNY]]), GlaxoSmithKline (NYSE: [[ticker:GSK]]), and Mirna Therapeutics. Earlier … Continue reading “BioXcel Therapeutics Appoints Vincent O’Neill Chief Medical Officer”
Category: New York
In a Genentech Redux, Roche Pays $2.4B for Rest of Foundation Medicine
Roche this morning agreed to acquire the part of Foundation Medicine it didn’t already own, another big vote of confidence in tests that analyze a patient’s cancer genes and the drugs that can target them. Roche will pay $137 per share, or $2.4 billion, for the remaining stock of Foundation (NASDAQ: [[ticker:FMI]]), of Cambridge, MA. … Continue reading “In a Genentech Redux, Roche Pays $2.4B for Rest of Foundation Medicine”
Sarepta’s Data Are First in Rush for Duchenne Gene Therapy
It’s far too early to say whether gene therapy can treat Duchenne muscular dystrophy, a deadly genetic disease. But the first clinical data have arrived, with Sarepta Therapeutics today reporting encouraging preliminary results from three patients. Sarepta (NASDAQ: [[ticker:SRPT]]), of Cambridge, MA, is conducting an early-stage study of its experimental treatment known as AAVrh74.MHCK7.micro-Dystrophin. The … Continue reading “Sarepta’s Data Are First in Rush for Duchenne Gene Therapy”
Decibel Hauls in $55M to Bring Multiple Hearing Drugs to the Clinic
[Updated, 6/19/18, 4:20 p.m. See below.] Hearing loss affects millions of Americans, but so far, drug companies have not yet brought treatments to the market. Decibel Therapeutics aims to pioneer the discovery and development of therapies addressing multiple forms of hearing loss. The startup has quietly built a pipeline of experimental drugs, and as those … Continue reading “Decibel Hauls in $55M to Bring Multiple Hearing Drugs to the Clinic”
As Sarepta Preps Data, FDA Lifts Hold on Solid’s Duchenne Gene Therapy
The race to use gene therapy to treat Duchenne muscular dystrophy, a progressive, deadly genetic disease that affects boys, is heating up this week. The FDA just cleared Solid Biosciences to resume clinical testing of a Duchenne gene therapy, a day before Sarepta Therapeutics will report human clinical data from a rival treatment that also … Continue reading “As Sarepta Preps Data, FDA Lifts Hold on Solid’s Duchenne Gene Therapy”
Biotech Beware, Your Culture Is Showing
In a recent survey of 220 scientists, 60 percent of the respondents reported having experienced harassment at a conference at some point in their careers. Even more astounding is the fact that 82 percent of those who reported harassment did not report it when it occurred. That’s why it’s easy to say, “How big of … Continue reading “Biotech Beware, Your Culture Is Showing”
Bio Roundup: Not-BIO Party Foul, CRISPR Drama, Sickle Cell Updates
This week brought a sobering reminder of how far away we are from true gender equality in the life sciences. An industry party held during BIO’s annual meeting in Boston last week featured scantily clad women with company logos painted on their bodies—two years after the infamous party at the J.P. Morgan party in San … Continue reading “Bio Roundup: Not-BIO Party Foul, CRISPR Drama, Sickle Cell Updates”
For Sickle Cell, a Complex Disease, New Drugs Could Bring Complex Costs
Cassandra Trimnell has sickle cell disease. She also loves to travel. For her 30th birthday last year, she and her husband planned a trip to Indonesia, and she figured she would be fine. Growing up in Iowa, she was sick all the time, in and out of hospitals with severe pain episodes, or “crises,” and … Continue reading “For Sickle Cell, a Complex Disease, New Drugs Could Bring Complex Costs”
Bluebird’s Upgraded Gene Therapy Shows Promise For Sickle Cell Patients
Bluebird Bio has new clinical data this morning that, while early and only from a handful of patients, are the most significant evidence to date that gene therapy might help people with sickle cell disease, a genetic disorder without an effective treatment that afflicts millions around the world. The data, presented at the European Hematology … Continue reading “Bluebird’s Upgraded Gene Therapy Shows Promise For Sickle Cell Patients”
GE Plans a Sale as San Diego Smart City Project Nears Completion
In another month or two, a General Electric (NYSE: [[ticker:GE]]) subsidiary is expected to complete the installation of an intelligent lighting system in San Diego that’s been billed as “the world’s largest municipal Internet of Things.” The Boston-based subsidiary, Current by GE, began work earlier this year for the city of San Diego on a … Continue reading “GE Plans a Sale as San Diego Smart City Project Nears Completion”
Last Chance to Save on June 21’s ‘New York Biotech: Bringing Back the Expats’
Summer is quickly approaching, and Xconomy has one last biotech event lined up to kick it off. On Thursday, June 21, we’re presenting “New York Biotech: Bringing Back the Expats.” Register today with our procrastinator’s special and save $75! The New York life sciences sector faces myriad challenges catching up to places such as Boston … Continue reading “Last Chance to Save on June 21’s ‘New York Biotech: Bringing Back the Expats’”
Jibo Lays Off Staff Several Months After Launch of “Social Robot”
Less than a year after Jibo began shipping its long-awaited “social robot” to consumers, the startup has reportedly laid off almost all of its employees. A Jibo spokesperson told BostInno that the company recently carried out a “significant reduction” in its workforce and cut other costs to give the startup “additional time to secure additional … Continue reading “Jibo Lays Off Staff Several Months After Launch of “Social Robot””
Lola Brings E-Commerce Subscription Boxes to Women’s Sexual Health
Lola, an e-commerce startup that focuses on women’s reproductive health, has raised $24 million. The Series B round of funding was led by ACG with participation from earlier investors Spark Capital, Lerer Hippeau, and Brand Foundry Ventures. Among the startup’s initial investors are tennis player Serena Williams, model Karlie Kloss, television producer Lena Dunham, and … Continue reading “Lola Brings E-Commerce Subscription Boxes to Women’s Sexual Health”
New York Fashion Tech Lab Connects Retail to Crucial Innovations
Amazon is fundamentally disrupting how and where we shop, but in-store retail still has life in it. The Seattle e-commerce giant is “a hefty competitor, but that doesn’t mean brands and retailers don’t have the ability to fight back,” says Kay Koplovitz, co-founder and managing partner of Springboard Growth Capital in New York. In fact, … Continue reading “New York Fashion Tech Lab Connects Retail to Crucial Innovations”
Allergan’s Migraine-Reducing Pill Hits Study Goals, Heads to Phase 3
An experimental Allergan pill meant to help reduce the frequency of migraines met the main goals of a key study, bolstering its chances of eventually being in the mix with a new wave of injectable migraine-preventing therapies. The results announced Monday for the Allergan (NYSE: [[ticker:AGN]]) drug, atogepant, come a month after Amgen (NASDAQ: [[ticker:AMGN]]) … Continue reading “Allergan’s Migraine-Reducing Pill Hits Study Goals, Heads to Phase 3”
TraceLink Tracks Down $60M to Fight Counterfeit Drugs Worldwide
A global proliferation of subpar and fake prescription drugs is driving more investment into businesses combating the problem with new software-based systems for tracking the supply chain of pharmaceuticals. TraceLink is one of those companies on the rise, and the North Reading, MA-based firm recently raised $60 million in a new venture capital round, according … Continue reading “TraceLink Tracks Down $60M to Fight Counterfeit Drugs Worldwide”
With $45M Translate Bio Deal, Sanofi Bets Again on mRNA Vaccines
It hasn’t been proven yet that synthetic messenger RNA molecules (mRNA) can be effective medicines. But their promise as a source for new vaccines, primarily for cancer, has enticed multiple pharmaceutical companies. The latest evidence comes from Sanofi, which just cut its second mRNA vaccine deal to date, this time with Translate Bio. Sanofi Pasteur, … Continue reading “With $45M Translate Bio Deal, Sanofi Bets Again on mRNA Vaccines”
Data Centers on Wheels: How Intel Plans to Capitalize on Mobility
Intel sealed its commitment to become a player in the burgeoning autonomous vehicle industry when it bought computer vision company Mobileye for more than $15 billion in 2017. The venerable Santa Clara, CA-based chipmaker is betting that its data analytics and connectivity chops—as well as its semiconductors—combined with Mobileye’s computer vision and mapping functions, will … Continue reading “Data Centers on Wheels: How Intel Plans to Capitalize on Mobility”
Bio Roundup: Wrapping ASCO, Dreaming IPO, Rebooting Axovant & More
Most of the cancer news this week happened at the massive ASCO meeting in Chicago. But not all, as we’ll see in a moment. Also this week, Biogen and Eisai reported good news about an Alzheimer’s drug, but with plenty of caveats. Axovant Sciences, which hit the skids last year because of a massive Alzheimer’s … Continue reading “Bio Roundup: Wrapping ASCO, Dreaming IPO, Rebooting Axovant & More”
Ahead of June 21 Xconomy Event, NY ‘Expats’ Talk Big Apple’s Biotech Future
Momentum has been building for New York biotech for several years now. But the life sciences sector still remains more of an afterthought in a city better known for its financial might. While several ingredients are already in place in New York—a dense, mixed population; several high-profile research and academic centers; and plenty of cash—it … Continue reading “Ahead of June 21 Xconomy Event, NY ‘Expats’ Talk Big Apple’s Biotech Future”
Biogen Makes Another Small Bet With Option Deal for TMS Stroke Drug
Biogen has yet to make the big, transformative buyout Wall Street investors have hoped for. But it continues to place small bets to build up its neurology pipeline. The latest is a deal to pick up a compound now in mid-stage testing in stroke victims. Cambridge, MA-based Biogen (NASDAQ: [[ticker:BIIB]]) said Thursday that it will … Continue reading “Biogen Makes Another Small Bet With Option Deal for TMS Stroke Drug”
Vertex CF Competitor Proteostasis Falters, Galapagos Up Next
Data released Wednesday afternoon looks to have eased a potential threat to Vertex Pharmaceuticals’ burgeoning cystic fibrosis franchise, though news from another challenger looms later this month. Proteostasis Therapeutics (NASDAQ: [[ticker:PTI]]) released data from a 49-patient Phase 1 study testing its experimental cystic fibrosis drug, PTI-801, in combination with Vertex’s (NASDAQ: [[ticker:VRTX]]) FDA-approved CF drug … Continue reading “Vertex CF Competitor Proteostasis Falters, Galapagos Up Next”
Waze for the Sky: GE Drone Venture AiRXOS Takes Flight
Despite all the hype and business investment, drones are mostly flown by hobbyists and the military these days, says Ken Stewart. But if he and other drone supporters have their way, the sky will eventually be dotted with unmanned aircraft delivering packages to consumers, transporting organs between hospitals, conducting search missions in remote areas, inspecting … Continue reading “Waze for the Sky: GE Drone Venture AiRXOS Takes Flight”
Athenahealth CEO Jonathan Bush Steps Down as Company Considers Sale
Athenahealth announced Wednesday that Jonathan Bush, its co-founder and chief executive, is stepping down, and the healthcare IT company will explore “strategic alternatives” that could include a sale. The news sent Athenahealth’s stock price up about 4 percent Wednesday morning, to more than $157 per share, as of this writing. The moves come a month … Continue reading “Athenahealth CEO Jonathan Bush Steps Down as Company Considers Sale”
Quentis Therapeutics Appoints Magram Chief Scientific Officer
Jeanne Magram has been appointed chief scientific officer of cancer immunotherapy developer Quentis Therapeutics. Before joining New York-based Quentis, Magram was chief scientific officer of Northern Biologics, a Toronto biotech company. Her experience also includes posts at Pfizer (NYSE: [[ticker:PFE]]) and Boeringer Ingelheim. In February, Quentis raised $48 million in a Series A financing round … Continue reading “Quentis Therapeutics Appoints Magram Chief Scientific Officer”
Nimbus Nabs $65M to Advance In-House Drug Discoveries to the Clinic
Nimbus Therapeutics’ drugs have already found new homes with larger companies that aim to develop them into potential treatments for autoimmune and liver diseases. Selling its discoveries was a goal for Nimbus from its inception. But the Cambridge, MA, biotech has also been trying to forge its own identity framed around discoveries that it keeps … Continue reading “Nimbus Nabs $65M to Advance In-House Drug Discoveries to the Clinic”
ASCO Wrap: Cancer Combos, Precision Meds, Stock Movers & More
The American Society of Clinical Oncology annual meeting, the world’s largest cancer conference, wraps up today in Chicago. Investors have dissected the data, picked winners and losers, and sent some biotech stocks soaring and others tumbling. In the days before ASCO, Xconomy previewed two major themes: the feverish and flawed race to develop cancer immunotherapy … Continue reading “ASCO Wrap: Cancer Combos, Precision Meds, Stock Movers & More”
Biotech’s Looming Talent Crisis: 5 Ways to Prepare for the Storm
Finding and keeping great talent has always been a limiting factor for building companies—and even more so in the life science industry, which requires highly specialized skills. As an executive recruiter focused solely on life sciences, I know firsthand the challenges of filling key executive roles, and I’m often the first to see signs of … Continue reading “Biotech’s Looming Talent Crisis: 5 Ways to Prepare for the Storm”
Sun Life Financial Buys Maxwell Health to Ease Insurance Buying
Maxwell Health’s quest to simplify the mind-numbing tasks of buying health insurance and administering other employee benefits will now continue under the wing of one of the startup’s investors. Boston-based Maxwell announced Monday it has been acquired by Sun Life Financial (NYSE: [[ticker:SLF]]), a Toronto, Canada-based company that sells insurance and provides a variety of … Continue reading “Sun Life Financial Buys Maxwell Health to Ease Insurance Buying”
E-Commerce Firm Rue La La Buys Fellow Flash-Sales Site Gilt Groupe
Two of fashion tech’s pioneering companies have come together. Rue La La, a flash-sale fashion site, announced Monday that it has purchased Gilt Groupe, a discount fashion and merchandise seller. Terms of the deal were not disclosed, but the two brands will operate independently, according to a press release. The merged company will be called … Continue reading “E-Commerce Firm Rue La La Buys Fellow Flash-Sales Site Gilt Groupe”
Teladoc Buys Advance Medical for $352M to Expand Telehealth Services
Teladoc said Monday that it has bought Advance Medical, a fellow provider of telehealth software and services, in a $352 million cash and stock deal intended to add to its reach beyond U.S. borders. Purchase, NY-based Teladoc (NYSE: [[ticker:TDOC]]) said that following its acquisition of Westwood, MA-based Advance Medical, more people who are employed by … Continue reading “Teladoc Buys Advance Medical for $352M to Expand Telehealth Services”
Xconomy’s Napa Summit Is June 14-15: Last Call for Invites
Just 10 days to go—but it’s not too late to request your invitation to Xconomy’s most unique and thought-provoking event of the year: our annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. We only have a few spots left open, so get your wine on and request your invitation today. You will … Continue reading “Xconomy’s Napa Summit Is June 14-15: Last Call for Invites”
Price Check on Aisle 3: Retailers Turn to Robots to Manage Inventory
Inventory management is crucial to operating a successful retail operation. And as hard as it may be to believe, retailers “don’t really know what’s on the shelves,” says Sarjoun Skaff, founder and CTO of Bossa Nova Robotics. A combination of the sheer number of products a retailer like Walmart has on offer and the pace … Continue reading “Price Check on Aisle 3: Retailers Turn to Robots to Manage Inventory”
Banks & Insurers Seek Out Startups in New MassChallenge Accelerator
Big corporations increasingly say they see startups as friends, not enemies. The latest example is a new financial technology accelerator in Boston led by MassChallenge, the nonprofit organization that runs a global network of startup support programs that don’t take equity stakes in the companies. MassChallenge FinTech will match early-stage ventures with well-established industry partners … Continue reading “Banks & Insurers Seek Out Startups in New MassChallenge Accelerator”
Loxo Unveils More Data, Paves a Path Forward In Precision Oncology
An experimental cancer drug from Loxo Oncology has shown early signs that it might impact multiple tumor types, regardless of where in the body they originated. The clinical results come with caveats, but they add to a slowly growing body of evidence supporting so-called tumor “agnostic” drugs, which are markers for the progress of precision … Continue reading “Loxo Unveils More Data, Paves a Path Forward In Precision Oncology”
Drug Price Watchdog ICER Deems Amgen Migraine Drug “Cost-Effective”
As Amgen approached an FDA decision last month for its migraine-prevention treatment, concern mounted that the drug would come at premium. In setting a price thousands of dollars less than expected, Amgen has won over one of the pharmaceutical industry’s fiercest drug price critics. The non-profit Institute for Clinical and Economic Review (ICER) assessed the … Continue reading “Drug Price Watchdog ICER Deems Amgen Migraine Drug “Cost-Effective””
Biotech Roundup: ASCO Ahead, CAMP4’s Cash, Ambien Tweeting & More
For the next five days, the oncology community’s attention will focus on Chicago. The Windy City is the home for the American Society of Clinical Oncology’s annual meeting, and it kicks off today. Many ASCO attendees will zero in on potential cancer drug combinations. They’re seen as the key to expanding the reach of caner … Continue reading “Biotech Roundup: ASCO Ahead, CAMP4’s Cash, Ambien Tweeting & More”
Drugs OK’d To Hit Tumor Genes Still a Basket of One. Are More Coming?
[Corrected 6/4/18, 1:53 a.m. ET. See below.] One year ago, the FDA made biomedical history. A cancer drug, pembrolizumab (Keytruda), was approved to treat tumors with a specific genetic fingerprint regardless of their location in the body. It was the first tissue-agnostic approval of a cancer drug, and it was a big shift for the … Continue reading “Drugs OK’d To Hit Tumor Genes Still a Basket of One. Are More Coming?”
Win Free Tickets to New York Biotech: Bringing Back the Expats!
We’re bringing the New York biotech community together once again for our latest life sciences event—and this time you’ve got a chance to win a free seat. New York Biotech: Bringing Back the Expats takes place at Riverpark at the Alexandria Center in New York on Thursday, June 21. We’ve brought together a few biopharma … Continue reading “Win Free Tickets to New York Biotech: Bringing Back the Expats!”
IDO Don’ts: After Immunotherapy Failure, Experts Say Slow Down
One year ago, on the eve of the yearly American Society of Clinical Oncology conference, a new class of drugs called IDO inhibitors seemed poised to become the next big thing in cancer care. They were a top choice to combine with the powerful but limited immunotherapies that have emerged this decade to fight many … Continue reading “IDO Don’ts: After Immunotherapy Failure, Experts Say Slow Down”
Smart-Kitchen Startups Give Cooks Digital Help Via Internet of Things
When it comes to connected homes, the hottest spot is located in your kitchen. The Internet of Things, artificial intelligence, and related technologies are being used to connect ovens, refrigerators, and other kitchen appliances to the Web. Feeling unsure about cooking that fish dish? Smart ovens can more accurately calibrate temperatures to avoid over-cooking. There’s … Continue reading “Smart-Kitchen Startups Give Cooks Digital Help Via Internet of Things”
Roche Up, J&J Down as Cancer Drug Combos Yield More Mixed Results
Clinical testing of drug combinations that utilize cancer immunotherapies rolled on this weekend with mixed results. One Phase 3 study from Roche/Genentech in lung cancer succeeded, while another from Genmab and partner Johnson & Johnson spelled trouble for another possible drug combination. Roche’s South San Francisco, CA, Genentech unit said its IMpower130 study, which combines … Continue reading “Roche Up, J&J Down as Cancer Drug Combos Yield More Mixed Results”
Bio Roundup: Brii Does China, Hemophilia Updates, Right to Try & More
Sometimes disruption comes in waves. Since the 1990s, hemophilia patients have had to inject themselves with drugs a few times a week to prevent dangerous internal bleeding. That could soon change. One drug already approved, from Roche, may only need to be taken once a month by hemophilia A patients. Another experimental therapy from Alnylam … Continue reading “Bio Roundup: Brii Does China, Hemophilia Updates, Right to Try & More”
Pfizer, Merck Lead Strata Oncology’s $26M Series B Round
In what company leaders describe as a “huge step,” Ann Arbor, MI-based precision medicine startup Strata Oncology this week closed a $26 million Series B investment round led by Pfizer Ventures and the Merck Global Health Innovation Fund. Other contributors to the round include Deerfield Management, Renaissance Venture Capital Fund, Arboretum Ventures, and Baird Capital. … Continue reading “Pfizer, Merck Lead Strata Oncology’s $26M Series B Round”
Request Your Invite for Our Napa Summit, June 14-15
In two and a half weeks, Xconomy will host our seventh annual Napa Summit: The Xconomy Retreat on Technology, Jobs, and Growth. In the heart of California’s wine country, it is our most exclusive, intimate, and unique conference. There are only a few tickets left—so request your invitation today to join fellow exemplary executives, innovators, … Continue reading “Request Your Invite for Our Napa Summit, June 14-15”
Paddy Power to Buy FanDuel After Supreme Court Paves Way for Betting
[Updated 5/24/18, 3:16 pm. See below.] The dominoes are starting to fall in the wake of a U.S. Supreme Court decision this month that opened the door for states to legalize sports gambling. FanDuel has agreed to be acquired by Ireland-based Paddy Power Betfair, a global sports betting and gaming company. New York-based FanDuel is … Continue reading “Paddy Power to Buy FanDuel After Supreme Court Paves Way for Betting”
Biotech IPOs Roll On as Kiniksa, Scholar Rock Get $227M Combined
The IPO window remains wide open for biotechs. Two more, Kiniksa Pharmaceuticals and Scholar Rock, make their Wall Street debuts this morning having raised $227 million combined in their IPOs last night. Kiniksa exceeded its funding goals. The Lexington, MA, company sold 1.44 million more shares than it projected, or 8.44 million total, at $18 … Continue reading “Biotech IPOs Roll On as Kiniksa, Scholar Rock Get $227M Combined”
Brii Biosciences Debuts with a China Pharma Strategy Backed by $260M
Growing up in China, Zhi Hong saw the healthcare challenges of his homeland firsthand. Despite the country’s economic strides, life science innovation there lags advances made in the West, he says. The GlaxoSmithKline veteran now wants to use his experience to adjust the balance. Backed by $260 million in financing, his startup, Brii Biosciences, plans … Continue reading “Brii Biosciences Debuts with a China Pharma Strategy Backed by $260M”
A.I. for Healthcare Gets Even More Crowded as GV Invests in Owkin
More money continues to flow into startups seeking to harness the massive amount of data available in healthcare using artificial intelligence and machine learning. This time, GV, the venture capital arm of Google parent Alphabet, is adding about $7 million to the Series A round for Owkin, bringing its total funding to $18 million. Owkin, … Continue reading “A.I. for Healthcare Gets Even More Crowded as GV Invests in Owkin”
Ahead of ASCO, Merck Touts Another Win for Lung Cancer Drug Combo
The rapidly changing treatment landscape for lung cancer could soon change again. This morning, Merck (NYSE: [[ticker:MRK]]) announced that a Phase 3 study called Keynote-407 has succeeded. The trial tested a combination of its immunotherapy pembrolizumab (Keytruda) and chemotherapy in 560 patients just diagnosed with advanced, squamous non-small cell lung cancer. Merck didn’t disclose specifics, … Continue reading “Ahead of ASCO, Merck Touts Another Win for Lung Cancer Drug Combo”